The Wal-Mart Decade - AchieveMax® Top Ten Book Review
The Wal-Mart Decade: How a New Generation of Leaders Turned Sam Walton's Legacy into the World's #1 Company was destined for publication. It was simply a matter of when it would be written and by whom. In fact, I'm amazed that it wasn't published long before this. Wal-Mart is so much more than the smiling faces of the senior citizens who greet you with open arms at the front of the store, it's more than the bouncing Smiley Face continually reducing prices in every aisle, and it's certainly much more than a typical discount store chain headquartered in the small Arkansas town of Bentonville. Wal-Mart is the real thing. It's here to stay. It's a world-class company.
There is much to learn from this corporate giant that recently moved into the #1 spot on the Fortune 500 ahead of GM, Exxon Oil, Ford Motor, and GE. Do you think Wal-Mart simply stumbled into that coveted position? Consider this:
- Wal-Mart has revenues of $246 Billion;
- Wal-Mart has 1 million 300 thousand employees;
- Wal-Mart has mastered logistics and the supply chain;
- Wal-Mart shares its strategic vision with each and every employee;
- Wal-Mart leaders never rest on their laurels;
- Wal-Mart continually find ways to reduce costs while improving the shopping experience for its customers;
- Wal-Mart is the first company ever to head both the Fortune 500 list of American companies and that magazine's list of Most Admired Companies; and
- the Wal-Mart management team has devised and then implemented strategies for rapid but prudent growth.
The greatest strength in the Wal-Mart arsenal is the fact that their CULTURE is everything. It's hard to argue with the reality of Wal-Mart's continued performance.
I think it's important to realize that the author of this book isn't a devoted Wal-Mart fan trying to recruit additional followers for the retail giant. Robert Slater was a reporter for Time Magazine for 21 years. He is the best-selling author of Jack Welch and the GE Way and has also written acclaimed books about IBM and Cisco. He probed deeply into the Wal-Mart organization from top to bottom, from Bentonville to China and beyond. This book offers a fresh and fascinating look at this unique company-as it was and as it has become-with an immediacy and insider's feel unrivaled since Sam Walton's own memoir, Made In America.
Sam Walton set the bar high for his future leaders. He created a unique culture based on three basic beliefs:
Respect for the individual;
Service to the customers; and
Striving for excellence.
Walton was also totally committed to what he characterized as his Ten Rules of Business ... each of which is explained in detail in the book. The author allocates three of 14 chapters to "The Founder and His Legacy." He wisely devotes the remainder of his book to explaining how the new management team devised and then implemented strategies for tremendous growth.
There really have been three quite different periods of Wal-Mart's development from a Ben Franklin franchise (opened in Bentonville as the Walton 5 and 10 in March of 1951) to the global retailing giant it is today. The three periods include the Sam Walton Years until his death in 1992, the David Glass Years (1992-2000), and the Lee Scott Years (2000-Present).
For years, many people asked about Wal-Mart the same question that others asked about Southwest Airlines: "What's going to happen after HE leaves?" With all due respect to both Sam Walton and Herb Kelleher, their respective organizations have done just fine. Perhaps that is the ultimate test of leadership: a heritage which endures after the leader is either gone or much less involved. In this exceptionally informative book, Slater explains how and why such a heritage guides and inspires the entire Wal-Mart organization.
More than 100 business book reviews written by Harry K. Jones are available at www.AchieveMax.com/books/index.htm">http://www.AchieveMax.com/books/.
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www.AchieveMax.com/motivational-speaker-harry.htm">Harry K. Jones is a professional speaker and consultant for AchieveMax®, Inc., a firm specializing in custom-designed keynote presentations, seminars, and consulting services. Harry has made presentations ranging from leadership to employee retention and time management to stress management for a number of industries, including education, financial, government, healthcare, hospitality, and manufacturing. He can be reached at 800-886-2MAX or by visiting www.AchieveMax.com">http://www.AchieveMax.com.
In what has become an annual rite under the Trump administration, the president's fiscal year 2020 budget proposal calls for the elimination of the National Endowment for the Arts. Trump's initial budgets for both fiscal 2018 and 2019 also called for cutting the NEA, but each time the House restored funds for the organization and last year gave the NEA a $3 million increase.
According to researchers, the English language might never have enjoyed a richness of F-words had it not been for early farmers and the food processing they favored. Dairy products and other soft foods, such as gruel, porridge, soup and stews, helped shape our faces, the researchers claim, and allowed us to form the sounds "f" and "v", known as labiodental fricatives...
After skipping 2018's announcement due to scandal, the Nobel Foundation has announced that the Nobel Prize in Literature will be awarded in 2019 - and that Laureates will be announced for both 2018 and 2019.
According to the press release: "During the past year, the Nobel Foundation has had a close dialogue with the Swedish Academy about the problems that arose in late 2017 and early 2018. Several important changes have been implemented since then. The Academy's regulations have been amended, making it possible for members to resign. The statutes have been clarified. Several new members have been elected. The Academy also no longer includes any members who are subject to conflict of interest or criminal investigations."
The longlist for The Women's Prize for Fiction 2019 have been announced. The winner will be declared in June.
The Silence of the Girls by Pat Barker
Remembered by Yvonne Battle-Felton
My Sister, the Serial Killer Oyinkan Braithwaite
The Pisces Melissa Broder
Milkman Anna Burns
Freshwater Akwaeke Emezi
Ordinary People Diana Evans
Swan Song Kelleigh Greenberg-Jephcott
An American Marriage Tayari Jones
Number One Chinese Restaurant Lillian Li
Bottled Goods Sophie van Llewyn
Lost Children Archive Valeria Luiselli
Praise Song for the Butterflies Bernice L. McFadden
Circe Madeline Miller
Ghost Wall Sarah Moss
Normal People by Sally Rooney
Across America, small theaters are canceling productions of Harper Lee's "To Kill a Mockingbird," citing a threat of litigation from a powerful, sharp-elbowed Broadway producer related to a contract that dates back half a century.
The theaters were planning to stage an adaptation of the novel by the playwright Christopher Sergel, which has been widely staged by adults and students for decades. Lawyers for the producer Scott Rudin, backed by the Lee estate, are telling the theaters that their productions are no longer permissible because there is a new adaptation, by the screenwriter Aaron Sorkin, which opened on Broadway in December...
The Guardian has a fun article on Susan Rennie's book, Roald Dahl's Rotsome and Repulsant Words, which is worth a read for all Dahl fans, and particularly lovers of his 1982 classic, The BFG:
If a small child were to walk up to the lexicographer Susan Rennie in the street and call her a slopgroggled grobsquiffler, she would know exactly how to reply. "You squinky squiddler!" she would shout. "You piffling little swishfiggler! You troggy little twit! Don't you dare talk pigsquiffle to me, you prunty old pogswizzler!" ...
Silicon Valley billionaire, philanthropist and author Michael Moritz and his wife Harriet Heyman's charitable foundation has been announced as the new sponsor of the Booker prize, a month after the Man Group revealed it was ending its 18-year sponsorship of the prestigious award for literary fiction.
Moritz and Heyman's foundation, Crankstart, has committed to an initial five-year exclusive funding term for the Booker, with an option to renew for a further five years. It will not give its name to the award, which will revert to its old name of the Booker prize from 1 June, when the Man Group's sponsorship ends.
We are pleased to announce the publication of
The Inner Lives of Book Clubs!
This fascinating report is the first to really get to the heart of the book club experience. It's the result of two surveys of more than 5,500 people, combined with BookBrowse's more than 15 years of book club experience and research.
Its 56-pages are packed with interesting and usable information that is relevant to librarians, authors, publishers, booksellers and, of course, book clubs.
Among much else, you will discover:
- The attributes most successful book groups share.
- The demographics of public book clubs compared to private groups.
- What people want from their book club.
- The elements book clubs look for when picking books.
- The 12 most common book club challenges, and how groups resolve them.
- The link between discussion length and happiness.
- The percentage of book clubs that use library book bags.
- What people interested in a book club but not in one want from a group
- What causes people to leave book clubs.
Prolific author William E. Butterworth III, who wrote under the name W.E.B. Griffin, has died aged 89.
The writer Andrea Levy, who explored the experience of Jamaican British people in a series of novels over 20 years has died, aged 62, from cancer.
After starting to write as a hobby in her early 30s, Levy published three novels in the 1990s that brought her positive reviews and steady sales. But her fourth novel, Small Island, launched her into the literary big league, winning the 2004 Orange prize, the Whitbread book of the year and the Commonwealth Writers' prize, selling more than 1m copies around the world and inspiring a 2009 BBC adaptation.